Debt is denominated in the token it’s borrowed in. 5k GHO might be the same as $5k when you borrow it, but you’re borrowing GHO, not a USD equivalent value of GHO. If the price of GHO drops below $1, the 5k GHO you borrowed can now be paid for less than $5k.
Let’s say GHO dropped to $0.80. Your 5K GHO loan is now only worth $4k. You could borrow $4K of pegged stablecoin and sell it for 5k GHO. You would have paid back what was a $5k equivalent loan for only $4k.
Nice interface and face transaction compare with Goerli network.
Thanks for the questions Athym,
Facilitators could indeed technically have their own borrowing rules for their users.
Facilitators receive a credit line that is uncollateralised, so they couldn’t be liquidated.
Aave also wouldn’t be able to liquidate a facilitators user, that would be up to a facilitator.
The above is predicated on any facilitator being approved by governance first.
To support the coming launch of GHO, we are proud to present our GHO Risk Monitoring Dashboard. This new dashboard, currently supporting the Goerli test net version of GHO, provides real-time monitoring of the stablecoin and allows users and developers to dive deep into GHO data and usage.
For more details and product run-through, please read our dedicated blog post.
We invite the community to try it out and welcome any feedback.
Hello, I´m using testnet Goerly for long time, it is working right 99%, We will need any action to migrate to Mainnet?, Do you know it should be any compensations for testers in future?
Thanks a lot